Lloyds Banking Group bins PPI

The group stopped selling the controversial product on loans, credit cards and mortgages on 23 July, although it will continue to service in-force policies. Lloyds confirmed the move following reports on consumer site MoneySavingExpert.com. The company lent its support to a legal challenge by Barclays in 2009 after the Competition Commission proposed a point-of-sale ban on PPI alongside other credit products. Barclays and Lloyds challenged the ruling on the grounds the Commission's investigation lacked enough evidence of mis-selling. A spokesperson for the bank says: "Lloyds dec...